S&S ISA question

Quick background I have 2 X S&S ISA's opened one 5 years ago and the other last year. I added the whole 20k to one of my S&S ISA this FY.
Question - The S&S ISA I did not pay into this year has money left in it to cover fees etc for funds I have but it looks like it may be short by the end of the this FY as some have gone up in value, so to make sure fees are covered I may need to pay a small amount of money into it (maybe £100) but can I if I have already paid the full allowance into the other one?? I assume this is breaking the rules. I don't want some of my shares sold to cover the fees.


Comments

  • HappyHarry
    HappyHarry Posts: 1,538
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    As you cannot contribute more to it this year, either you or the provider will need to sell some holding within the ISA to cover the fee.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • grumiofoundation
    grumiofoundation Posts: 3,050
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    No you can’t pay into the second stocks and shares ISA.
    You can only pay into one stocks and shares ISA each tax year. 

    Some providers allow you to pay fees from a cash account, or directly from your bank account. 
  • eskbanker
    eskbanker Posts: 29,855
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    curtis122 said:
    Quick background I have 2 X S&S ISA's opened one 5 years ago and the other last year. I added the whole 20k to one of my S&S ISA this FY.
    Question - The S&S ISA I did not pay into this year has money left in it to cover fees etc for funds I have but it looks like it may be short by the end of the this FY as some have gone up in value, so to make sure fees are covered I may need to pay a small amount of money into it (maybe £100) but can I if I have already paid the full allowance into the other one?? I assume this is breaking the rules. I don't want some of my shares sold to cover the fees.
    Which platform have you funded this year and which appears likely to have a cash shortfall?  As above, some will allow fees to come from outside the ISA, or another possibility may be to transfer one or more holdings from the underfunded one, either to the other one or even out to a third that allows external funding of fees (which is OK if it's all prior year money).  Up to you as to whether the hassle and/or cost of doing this outweighs your preference not to have to sell....
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